Money to move on

Belarus plans to take out $250 million in foreign loans
The annual 10% economic expansion of Belarus must have been closely analyzed by the world economic community. They don’t really like steady climbers, but have to give this country a credit for the recent achievements. For the first time over the past 10 years Belarusian companies have been allowed to take out foreign loans via the largest commercial bank of the country, Belarusbank, without the security of the government and insurance coverage. Besides, these will be untied loans, which means the Belarusian borrowers will be able to spend the money on any project they wish. Belarus has really turned in a reliable partner that may be trusted.

There is much free money in Europe and Asia. It could be lent to any country of the world, but the essential issue is the terms of credit.

— We now have new opportunities to finance domestic business projects, said Deputy Chairman of Belarusbank Vladimir Novik. — We took out the first untied syndicated loan of European banks in March, and are ready to disburse another one. The interest rates are competitive enough. We also plan to issue Eurobonds in the near future. The main thing now is to accumulate promising business plans. The presentation of new credit terms was attended by representatives of 150 Belarusian companies, and many of them came to Belarusbank with specific offers.
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